nice, gonna be some firesales of what could be nice used vehicles soon
The used car market is already becoming more buyer friendly. This will certainly help even more.
Perhaps, the lender may try to recover full book value.
Doubtful. They'll destroy them before they sell them at a loss.
No they won't that isn't how it works. They will sell the car, often at auction. Whatever money is left on the lien after the sale (deficiency balance) the original purchaser is still on the hook for.
They'll destroy them before they sell them at a loss.
Because a 100% loss is better than recouping some of your money. Srsly dude, wtf.
Because a 100% loss is better than recouping some of your money. Srsly dude, wtf.
Yes it is. Because they get 100% of the sale price, not cost, from taxpayer kick backs.
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